Repay the loan and maintain the property as restored, rehabilitated, or
repaired for at least seven years;

Maintain complete and proper financial records regarding the property and
make them available to the Division on request;

Complete the project within two years from the date of the closing of the
loan; and

Provide to the State sufficient collateral security interest in the
property.

Rate of Interest: The Historic Preservation Loan Fund contribution
shall accrue interest at the rate of three percent (3%) per annum; the "lending
institution" rate of interest is negotiated between the borrower and the
commercial bank, savings and loan, or credit union.

Repayment: In installments at least annually, with the first
installment due within one year of the date the loan is closed by the lending
institution.